Amid the impact of the Iran war, a certain CEX offered about 1,000 temporary relocation options for its employees in the UAE, including to places such as Hong Kong. Its UAE operations remain normal, and global user services are unaffected. This move is intended to address disruptions to cryptocurrency activities caused by regional conflicts.

Bitcoin and the cryptocurrency market rebounded on Wednesday after the United Arab Emirates urged the United Nations to use force to reopen the Strait of Hormuz, easing concerns about a war with Iran. The market reacted positively to signs of de-escalation and the U.S. troop withdrawal plan, with the price of Bitcoin rising by more than 1%.

The United Arab Emirates suffered attacks from 7 missiles and 27 drones on March 13. The Abu Dhabi National Oil Company set the April Murban crude oil price at $69.45 per barrel. Meanwhile, a Middle Eastern family office has contacted Singapore regarding plans to relocate funds, which require compliance review.

An executive at the National Bank of the United Arab Emirates stated that the bank is considering incorporating Bitcoin into its investment process, viewing it as a store of value and "digital gold." They believe Bitcoin's current valuation is more attractive and predict its fair price will approach $100,000. However, due to its high volatility, the allocation will remain limited to pursue portfolio diversification.

ChainCatcher reports that, according to Jinshi, five informed sources revealed that officials working with Trump's "Peace Commission" are exploring the creation of a stablecoin for Gaza to reshape the economy of this war-torn Palestinian enclave. The discussion around introducing the stablecoin is still in the preliminary stage, and many details remain to be finalized regarding how to implement it in Gaza. The stablecoin is expected to be pegged to the US dollar, with hopes that Gulf Arab countries and Palestinian enterprises with expertise in digital currencies can take the lead in advancing the project.

Arab Bank's fintech accelerator AB Xelerate has invested in stablecoin settlement company Ubyx to support its development of a digital currency sharing network for financial institutions. Ubyx was previously acquired by Barclays and plans to explore tokenized currencies.

The Central Bank of the United Arab Emirates and the Hong Kong Monetary Authority held their third meeting in Abu Dhabi to discuss strengthening financial services cooperation and connectivity, covering topics such as cross-border debt markets, digital assets, and stablecoin regulation, as well as promoting interoperability of the central settlement system for debt instruments.

Reports from the St. Moritz Crypto Finance Conference in Switzerland indicate that the importance of traditional financial institutions in the crypto industry is increasing, leading to a decline in market optimism regarding IPOs of crypto companies. Although liquidity shortages are seen as a major risk, improved regulatory environments in the United States and the United Arab Emirates have boosted market confidence.

Saudi Arabia plans to purchase gold from Sudan to weaken the UAE's dominant position in the country's gold exports. This move reflects the escalating tensions between Saudi Arabia and the UAE, although in the short term, Saudi Arabia will find it difficult to fully replace the UAE's core position. Sudan's gold revenue is vital to its economy, and Saudi Arabia's intervention could trigger new changes in the gold trade.